look news india
Sarkari yojana: With the aim of promoting employment in the country, the Central Government has approved ‘Pradhan Mantri Development Bharat Employment Scheme (PMVBRY)’. The Ministry of Labor said on Friday that the scheme will remain in force from 1 August 2025 to 31 July 2027. The Union Cabinet chaired by Prime Minister Narendra Modi approved the scheme.
The ministry said in a statement that the purpose of this scheme is to promote employment creation in the country. The PM-VBRY, with a total outlay of Rs 99,446 crore, aims to create more than 3.5 crore employment in two years. Of these, 1.92 crore beneficiaries will join the workforce for the first time.
Purpose of scheme
The scheme will promote inclusive and environment-friendly employment creation in the country. Employers will be encouraged to create new employment opportunities in various fields, in which special attention will be paid to the manufacturing sector. This is an important part of India’s employment-based economic development strategy.
There are two parts of this scheme. Part A focuses on investors for the first time while Part B focuses on employers. Keeping in mind the employees who have registered for the first time in the Employees Provident Fund Organization (EPFO), EPF contribution of up to Rs 15,000 per month will be available in two installments under Part A. Employees with salary up to Rs 1 lakh will be eligible for this. The first installment will be payable after six months of service, while the second installment will be payable to the employee after completing 12 months of service and financial literacy program.
These instructions were given to the employer.
To promote the habit of savings, a part of this incentive amount will be placed in a savings account or deposit account for a certain period and employees will be able to withdraw it later. This part will include additional employment generation in all areas, paying special attention to the manufacturing sector. Employees will get incentive amount for employees with salary up to Rs 1 lakh. The government will provide an incentive amount of up to Rs 3000 per month for two years to the employer for every additional employee working continuously for at least six months. The incentive amount for the manufacturing sector will also be extended for the third and fourth year.
